Bad loans: Make pre-sanction process more diligent, RBI official tells banks

A senior central bank official today asked banks to work very hard to strengthen their risk management system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2L4MpTt

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Bad loans: Make pre-sanction process more diligent, RBI official tells banks

A senior central bank official today asked banks to work very hard to strengthen their risk management system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2L4MpTt

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Bankruptcy: Government hints at new law for registered valuers

The government is planning a separate legislation for registered valuers who can help arrive at a better valuation of bankrupt companies under the insolvency process, a senior government official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MXn2F1

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Bad loans: Make pre-sanction process more diligent, RBI official tells banks

A senior central bank official today asked banks to work very hard to strengthen their risk management system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2L4MpTt

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Bankruptcy: Government hints at new law for registered valuers

The government is planning a separate legislation for registered valuers who can help arrive at a better valuation of bankrupt companies under the insolvency process, a senior government official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MXn2F1

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Bad loans: Make pre-sanction process more diligent, RBI official tells banks

A senior central bank official today asked banks to work very hard to strengthen their risk management system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2L4MpTt

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Bankruptcy: Government hints at new law for registered valuers

The government is planning a separate legislation for registered valuers who can help arrive at a better valuation of bankrupt companies under the insolvency process, a senior government official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MXn2F1

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Bankruptcy: Government hints at new law for registered valuers

The government is planning a separate legislation for registered valuers who can help arrive at a better valuation of bankrupt companies under the insolvency process, a senior government official said today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MXn2F1

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Bankruptcy: Government hints at new law for registered valuers

Of the 40 largest NPA accounts sent to various NCLTs since last July, which together constitute around 40 per cent of the over Rs 11-trillion of bad loans, only seven have been resolved so far, wherein the banks have taken an average haircut of over 60 per cent only as some accounts like Alok Industries have been bid out for a paltry 17 per cent of the money the bankrupt company owed to the lenders.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2nNZ2cB

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‘PSBs to turn profitable in 1-2 years’

Subhash Chandra Garg, Secretary, Department of Economic Affairs, on Saturday said public sector banks are likely to come out of the Prompt Correctiv

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Take realistic view of loan losses: Govt tells banks

"The haircut has to be seen from the enterprise value angle and not from the claims angle," said Injeti Srinivas, Secretary, Ministry of Corporate Affairs.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2PhqBYe

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SBI announces temporary waiver of charges on transactions in Kerala

State Bank of India on Saturday announced a temporary waiver of various charges and fees on banking transactions in flood ravaged Kerala. The waiver

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Why Chinese banks are wary about lending to Pakistan

China's banks have already extended tens of billions of dollars in infrastructure loans to support the $57 billion China-Pakistan Economic Corridor, a centrepiece of Beijing's Belt and Road Initiative which seeks to increase its geopolitical influence.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2wcwvkC

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IBC’s Rs 50,000 crore NPA resolution success! Creditors recover more than half of their money

Creditors have recovered Rs 49,783 crore, or almost 56% of their admitted claims, from 32 stressed companies where insolvency resolution plans were approved by the National Company Law Tribunal (NCLT) by the end of June, showed data compiled by the insolvency regulator. 

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Small biz exports hit by GST refund delay

Exports by small businesses were adversely affected by a delay in refund of upfront goods and services tax (GST) and input credit, which put pressure on their working capital requirements, a study published by the Reserve Bank of India (RBI) said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OKCjJS

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Debt recovery by PSU banks could be twice of 2017-18

Data showed that in the last financial year, recovery of bad debt added up to Rs 74,562 crore and if the current pace sustains, lenders will end the year with nearly double the amount recovered in 2017-18.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OKOxC6

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Icra downgrades Syndicate Bank’s tier-II bonds

Icra downgraded Syndicate Bank’s long-term rating for the Rs 3,250-crore Basel-III compliant tier-II bonds to AA (hyb) from AA+(hyb). The outlook on the rating was negative.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BhQNPs

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Allahabad Bank puts Rs 711-crore NPAs on sale

Kolkata-headquartered Allahabad Bank on Friday put on sale non-performing assets (NPAs) worth Rs 711 crore, including a Rs 165-crore exposure to the Patni group-owned Rohit Ferro-Tech, whose debt stood at Rs 2,889 crore at the end of March 2017.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vScOz9

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Banks lost share to NBFCs in MSME credit: RBI

The share of credit provided by banks to micro, small and medium enterprises (MSMEs) has declined since September 2016, even as the share of loans by non-banking financial companies (NBFCs) nearly doubled to 10% between December 2015 and March 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PhMKWc

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Operators must pay attention to cyber security, reasonableness of charges, says RBI Governor Urjit Patel

RBI Governor Urjit Patel has asked financial services providers to focus on cyber security and reasonableness of customer charges.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vPvjoa

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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PE funds body wants ‘deemed exports’ status for services

Says allowing input tax credit to ease GST burden will urge funds to move to India

from Business Line - Money & Banking https://ift.tt/2OO9ZGH

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

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India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Safecrop group to buy Star Health Insurance

Deal size for India’s first standalone health insurer estimated at $1 b

from Business Line - Money & Banking https://ift.tt/2OFHqLp

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

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Make no compromise on cyber security: RBI chief

Our BureauOperators in the payments system space should ensure that no corners are cut when it comes to cyber security, said Urjit Patel, Governor,

from Business Line - Money & Banking https://ift.tt/2Mxpk0J

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Cyber attacks on smaller banks likely to double, say experts

Priyanka PaniThe number of cyber attacks on banks, especially the smaller ones, is likely to double in the coming months, according to experts tracki

from Business Line - Money & Banking https://ift.tt/2ODD72Y

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Canara Bank plans to raise ₹7,000 cr this fiscal: Chairman

KR SrivatsCanara Bank aims to complete capital raising of ₹7,000 crore this fiscal itself, according to its Chairman, TN Manoharan. “We certainly ne

from Business Line - Money & Banking https://ift.tt/2nIiQOy

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Expedite settlement of claims related to Kerala floods: IRDAI

Our BureauThe Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to expedite settlement of all registered and eligibl

from Business Line - Money & Banking https://ift.tt/2OJTQBU

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Now, mental ailments to be covered

Insurers welcome IRDAI directive, which will provide quality medical care to patients

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SBI Life bets big on protection policies

Eyes higher share in overall business; sees significant rise in digital policies

from Business Line - Money & Banking https://ift.tt/2OKEgpK

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

Read more »

Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

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Operators must pay attention to cyber security: Urjit Patel

"While the Reserve Bank will continue to pay focused attention to appropriate enabling regulation, strong infrastructure, apposite supervision and customer centricity, due attention must be paid by operators towards cyber security, effective customer grievance redress arrangements and reasonableness of customer charges," he said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OGc07K

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Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

Read more »

Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

Read more »

Delhi HC dismisses PIL against cap on free withdrawals from ATMs

The Delhi High Court has dismissed a PIL against the cap on free-of-charge withdrawals by banking customers from own bank ATMs, saying it was a policy decision.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OKg0UI

Read more »

India Post Payments Bank launch deferred on national mourning due to Atal Bihari Vajpayee’s demise

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of seven-day national mourning to pay homage to former Prime Minister Atal Bihari Vajpayee, an official source said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nMRs1Q

Read more »

Big boost for PM Modi’s Digital India dream! Indian banks, insurance companies increasingly embracing digitisation, says US tech expert

Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9MoZ7

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Government tells Nabard to initiate pension process in RRBs

Government has sent a communication to all regional rural bank chairmen and chief executives of their sponsor banks to execute the decision

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MsnChb

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India Post Payments Bank launch deferred

The launch of India Post Payments Bank (IPPB) is being rescheduled in the wake of the seven-day national mourning to pay homage to former Prime Mini

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Indian banks, insurance cos increasingly embracing digitisation: US tech expert

The government wants to engage the citizens and commercial enterprises are increasingly reaching out to the consumers for market share, Overtveld said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MTIkU4

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Smaller banks more vulnerable to cyber attacks: Experts

Cosmos Cooperative Bank Ltd, one of the oldest cooperative banks in India, might have never apprehended that it could be the target of hackers worldw

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SBI puts fresh set of NPAs worth Rs 383 crore up for sale

State Bank of India (SBI) has put on sale a fresh batch of non-performing assets (NPAs) worth Rs 383 crore, days after it put on the block two accounts with a total outstanding of Rs 2,490 crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PhDNwo

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Airtel Payments Bank, Bharti AXA Life join hands for govt insurance scheme PMJJBY

Airtel Payments Bank on Thursday announced that it has partnered with Bharti AXA Life Insurance to offer the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a government-backed life insurance scheme aimed at increasing life insurance cover.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MYpSJK

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More suitors join race to acquire Madura Microfinance

Madura Microfinance was founded by late banker-turned-entrepreneur KM Thiagarajan and is now run by his non-resident Indian, neuro scientist daughter Tara Thiagarajan.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Bk41Ly

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NPCI launches new-look UPI with overdraft facility

Nilekani also touched upon the role of the central bank in spearheading the account aggregation guidelines.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2w6MGju

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Kotak Mahindra Bank to open over 100 branches in FY 19

Kotak Mahindra Bank plans to open over 100 branches to take the network to 1,500 from the existing 1,391 by the end of the current fiscal, a senior official said here today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OI9Wfq

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Cosmos Bank cyber attack: Pune Police forms SIT to probe Rs 94-crore fraud

The Pune Police has formed a special investigation team (SIT) to probe the cyber fraud in Cosmos Bank, in which hackers allegedly siphoned off over Rs 94 crore through a malware attack on the bank's server in two days, a top police official said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pk2mc2

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Banks to come out of PCA framework by this fiscal, says Financial Services Secretary Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar today expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OHTtYJ

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Kotak Mahindra Bank to open over 100 branches in FY 19

Kotak Mahindra Bank plans to open over 100 branches to take the network to 1,500 from the existing 1,391 by the end of the current fiscal, a senior official said here today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OI9Wfq

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Cosmos Bank cyber attack: Pune Police forms SIT to probe Rs 94-crore fraud

The Pune Police has formed a special investigation team (SIT) to probe the cyber fraud in Cosmos Bank, in which hackers allegedly siphoned off over Rs 94 crore through a malware attack on the bank's server in two days, a top police official said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pk2mc2

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Banks to come out of PCA framework by this fiscal, says Financial Services Secretary Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar today expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OHTtYJ

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Kotak Mahindra Bank to open over 100 branches in FY 19

Kotak Mahindra Bank plans to open over 100 branches to take the network to 1,500 from the existing 1,391 by the end of the current fiscal, a senior official said here today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OI9Wfq

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Cosmos Bank cyber attack: Pune Police forms SIT to probe Rs 94-crore fraud

The Pune Police has formed a special investigation team (SIT) to probe the cyber fraud in Cosmos Bank, in which hackers allegedly siphoned off over Rs 94 crore through a malware attack on the bank's server in two days, a top police official said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pk2mc2

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Banks to come out of PCA framework by this fiscal, says Financial Services Secretary Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar today expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OHTtYJ

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Kotak Mahindra Bank to open over 100 branches in FY 19

Kotak Mahindra Bank plans to open over 100 branches to take the network to 1,500 from the existing 1,391 by the end of the current fiscal, a senior official said here today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OI9Wfq

Read more »

Cosmos Bank cyber attack: Pune Police forms SIT to probe Rs 94-crore fraud

The Pune Police has formed a special investigation team (SIT) to probe the cyber fraud in Cosmos Bank, in which hackers allegedly siphoned off over Rs 94 crore through a malware attack on the bank's server in two days, a top police official said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pk2mc2

Read more »

Banks to come out of PCA framework by this fiscal, says Financial Services Secretary Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar today expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OHTtYJ

Read more »

Kotak Mahindra Bank to open over 100 branches in FY 19

Kotak Mahindra Bank plans to open over 100 branches to take the network to 1,500 from the existing 1,391 by the end of the current fiscal, a senior official said here today.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OI9Wfq

Read more »

Cosmos Bank cyber attack: Pune Police forms SIT to probe Rs 94-crore fraud

The Pune Police has formed a special investigation team (SIT) to probe the cyber fraud in Cosmos Bank, in which hackers allegedly siphoned off over Rs 94 crore through a malware attack on the bank's server in two days, a top police official said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Pk2mc2

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Banks to come out of PCA framework by this fiscal, says Financial Services Secretary Rajiv Kumar

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar today expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OHTtYJ

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Worst over for PSBs, Q1 performance much better, says DFS secretary

The financial services secretary said with all these efforts, he was sure of the banks would come out of PCA this fiscal year.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OI6FNa

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High rate of increase in MSP in focus at RBI’s MPC meet

Members of the monetary policy committee (MPC) flagged the possible impact of the larger-than-average increase in minimum support prices (MSP) for kha

from Business Line - Money & Banking https://ift.tt/2nHv7CL

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Kotak Mahindra Bank’s digital savings account

Kotak Mahindra Bank’s paperless, mobile app-based savings account has been registering rapid growth. The account, titled ‘811’ to signify demonetis

from Business Line - Money & Banking https://ift.tt/2OI4j0v

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Expect some PSBs to come out of PCA framework this fiscal: DFS Secy

Asserting that the fundamentals of many Public Sector Banks (PSBs) have improved in recent months, Rajiv Kumar, Secretary, Department of Financial S

from Business Line - Money & Banking https://ift.tt/2BgODzJ

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Expect some PSBs to come out of PCA framework this fiscal, says DFS Secy

Asset quality of banks has ‘improved transparently’ in recent months: Rajiv Kumar

from Business Line - Money & Banking https://ift.tt/2MwC0EW

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Canara Bank to roll out Candi in each of its 21 circles: Chairman

KR SrivatsCanara Bank plans to open its newly conceptualised digital banking branch Candi in each of the 21 circles of the bank across the country, a

from Business Line - Money & Banking https://ift.tt/2L0BQkt

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LIC’s ‘cancer cover’ policies a big hit

Collects ₹29.16 crore as premium in nine months since launch

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Insurers to cover mental illness

In a step towards reducing myths and stigma associated with mental illness, the insurance regulator today asked insurers to cover mental illness under medical insurance policy, treating it at par with physical illness.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vLtSXQ

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Rupee slides 26 paise to close below historic 70-mark on trade deficit worries

The 9.3 per cent fall in the rupee this year has already led to a surge in local prices of goods with an imported component. July was the ninth straight month in which India’s inflation was higher than the Reserve Bank of India’s (RBI) medium-term target of 4 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Mo1DYL

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Bank credit grows 12.7% in the fortnight to August 3: RBI

The increase in advances in the reporting fortnight was higher than the growth registered in the previous fortnight ending July 20 when it had risen by 12.44 per cent to Rs 86,13,164 crore.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KUiCNq

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Banks to come out of PCA framework by this fiscal: Secy

Provision Coverage Ratio of banks have reached a healthy level of 63.8 per cent, he added.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OEh9wQ

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Kotak Mahindra Bank to open over 100 branches in FY 19

The bank's senior executive president, Puneet Kapoor said they are in the process of setting up a branch in Dubai International Financial Centre.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2vPbtcy

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NPCI launches UPI 2.0 with overdraft facility

The National Payments Corporation of India (NPCI) on Thursday launched Unified Payments Interface (UPI) 2.0, which among others allows customers to l

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Airtel Payments Bank joins hands with Bharti AXA Life to ‘Insure India’ under PM Jyoti Bima Yojana

Airtel Payments Bank and Bharti AXA Life Insurance today announced a pact to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), leveraging the payments bank's network in rural pockets.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OIq3cV

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Nearly a third of ATMs in the country run on old operating systems

Despite constant nudging by the RBI, banks have been tardy in implementing appropriate control measures

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Walmart India activates UPI on its B2B e-commerce platform

This payment solution will enable members, especially kiranas/resellers, who shop online at Walmart India's B2B e-commerce site www.bestprice.in, to make direct and secured payments online from their bank account without sharing bank details, the global retail giant said in a press release on Thursday.

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Bharti AXA, Airtel Payments Bank team up to offer Pradhan Mantri Jeevan Jyoti Bima Yojana

Initially, PMJJBY will be available at 1 lakh Airtel Payments Bank banking points across India.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OFfUNT

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Bharti Axa ties up with Airtel Payments Bank to offer Jeevan Jyoti Bima

New Delhi, August 16Bharti Axa Life Insurance and Airtel Payments Bank on Thursday entered into an alliance to offer the ‘Pradhan Mantri Jeevan Jyoti

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UPI 2.0 set to be launched today by Urjit Patel

Though UPI 2.0 will miss the main attraction of automated recurring payments, it will now bring in features like overdraft facility, IPO subscription, block feature on digital payments etc.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OI5ZaD

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Q1 data shows worst may be over for PSU banks

Public sector unit (PSU) banks seem to have put the worst behind them. The combined loss of all state-owned lenders has shrunk 74% to Rs 16,614 crore for the quarter ended June 2018 (Q1FY19) as compared to Rs 62,681 crore in the preceding quarter of January-March (Q4FY18).

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2P7enBv

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Govt looks for more influence on RBI board

After appointing S Gurumurthy and Satish Marate on the board of the Reserve Bank of India (RBI), the government is looking at a firmer influence over the central bank’s apex decision-making body by nominating individuals who argue its case better.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MQIOu4

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Banks or fintech companies: Who will dominate the credit supply chain?

Banks are not just intermediaries that can be made redundant by technology in foreseeable future.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Pb5DtS

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RBI puts 200 stressed account under scanner

As part of its effort to contain rising non-performing assets (NPAs), the RBI has started scrutiny of 200 large accounts to assess level of stress and provisioning done against them by respective banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PcIeIu

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Cosmos Bank fraud: NPCI says its systems fully secure

The National Payments Corporation of India (NPCI) today said its systems are "fully secure" and the cyber fraud of more than Rs 90 crore at Pune-based Cosmos Bank happened due to a malware-based attack on the lender's IT system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KTn673

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RBI puts 200 stressed account under scanner

As part of its effort to contain rising non-performing assets (NPAs), the RBI has started scrutiny of 200 large accounts to assess level of stress and provisioning done against them by respective banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PcIeIu

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Cosmos Bank fraud: NPCI says its systems fully secure

The National Payments Corporation of India (NPCI) today said its systems are "fully secure" and the cyber fraud of more than Rs 90 crore at Pune-based Cosmos Bank happened due to a malware-based attack on the lender's IT system.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KTn673

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Oil prices, global developments to weigh on the rupee: FICCI survey

The rupee is going to continue to depreciate in 2018-2019 due to the movement of oil prices and domestic as well as global economic developments, acco

from Business Line - Money & Banking https://ift.tt/2w7tF0g

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‘Technology has helped us open multiple channels to serve rural customers’

Thomas Abraham Ujjivan Small Finance Bank is putting technology to good use to bring a slew of banking services, including government schemes, to th

from Business Line - Money & Banking https://ift.tt/2OBiHru

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Insurers see rising demand for policies on online platforms

Ease and convenience attract customers; innovation and technology are the key focus areas for insurance companies

from Business Line - Money & Banking https://ift.tt/2KVpMB8

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Foreign exchange market being monitored: Jaitley

Union Minister says India’s foreign exchange reserves are sufficient to mitigate anyundue volatility in the currency market

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Larger UCBs surprised at not being allowed to spread provisioning for MTM losses on G-Secs

K Ram KumarThe Reserve Bank of India’s move to restrict the option of spreading provisioning for mark-to-market losses on government securities to sm

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Challenges ahead as Ayushman Bharat insurance scheme gets set for launch

Several States still lack proper hospital infrastructure; bigger hospitals stay away due to the scheme’s lack of clarity

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Canara Bank to hire social media agency for customer outreach

Canara Bank plans to hire a social media agency as part of its brand promotion and to reach customers in a better way.The bank is looking for a socia

from Business Line - Money & Banking https://ift.tt/2vMUtDF

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NPCI blames Cosmos Bank's 'own IT environment' for Malware attacks

In the first cyber hit, the bank lost Rs 80.50 crore through multiple ATM swipes in 28 countries. In the second malware assault, the hackers gobbled up Rs 13.92 crore by initiating SWIFT transfers.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OEic02

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North Korean connection to Cosmos hacking? Signs point to Bangladesh heist masterminds

The highly orchestrated event could be the handiwork of Lazarus, North Korea's most prolific hacking group

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MPhigG

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New enemy of outsourcing: DIY by banks

The financial vertical has long been the bread & butter of the IT services business, but the sector’s contribution to overall revenue has fallen for most of the big vendors over the past few years.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Oyewg2

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New enemy of outsourcing: DIY by banks

For TCS, financial services was 33.4% of overall revenue in 2016-17 — it was down to 31.1% in the last quarter. For Cognizant, it’s down 3 percentage points in the past two years, and for Infosys it’s down 1.4 percentage points.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KTHKUr

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Allahabad Bank says Usha Ananthasubramanian ceases to be MD & CEO

State-owned Allahabad Bank today said Usha Ananthasubramanian no longer heads the bank following the Finance Ministry directive yesterday to remove her from the post.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ODn19U

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RBI says Uday Kotak’s stake dilution in Kotak Mahindra Bank does not meet its norms

The Reserve Bank today said the recent stake dilution by Kotak Mahindra Bank founder Uday Kotak does not meet its regulatory norms on the same, something the private sector lender contested.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vKbePQ

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Despite a brief respite, price-rise worries persist

Further rate hikes by the RBI in the current fiscal year cannot be ruled out

from Business Line - Money & Banking https://ift.tt/2vLhNBD

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New norms notified for ATM cash loading

It also directed personnel deputed on these vans to undergo training in handling situations like an armed assault, tailing by vehicle-borne criminals and insider threat.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Mh92JR

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NHB MD Sriram Kalyanaraman quits over charges of favouring housing finance companies

There are allegations that unethical practices were adopted by the housing regulator for sanctioning refinance facility to various housing finance companies.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2w7halk

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Allahabad Bank says Usha Ananthasubramanian ceases to be MD & CEO

Accordingly, Usha Ananthasubramanian has ceased to be the MD&CEO of the bank with effect from the date of aforesaid government notification, it said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2BaIlkT

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IDBI Bank Q1 loss widens to ₹2,410 crore

Our BureauIDBI Bank’s net loss widened to ₹2,410 crore in the first quarter against ₹853 crore in the year-ago quarter due to a huge jump in loan los

from Business Line - Money & Banking https://ift.tt/2OA9lw3

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With no representation in committee finalising Bitcoin policy, industry players feel left out

Priyanka Pani The interdisciplinary committee finalising a regulatory framework for cryptocurrency trade in India has no representation from the sta

from Business Line - Money & Banking https://ift.tt/2vFxTgo

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How Corporation Bank’s ‘halla bol’ on NPAs began yielding results

Bank resorts to a ‘peaceful’ way to recover bad loans

from Business Line - Money & Banking https://ift.tt/2Owxkwa

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Allahabad Bank posts Q1 loss of ₹1,944 cr

Our BureauHigher provisioning for accounts referred to the National Company Law Tribunal (NCLT) and the recent RBI guidelines on restructured accoun

from Business Line - Money & Banking https://ift.tt/2vFxP08

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RBI rejects Kotak Mahindra Bank proposal to dilute promoter stake

May consider other ways to dilute promoter holding

from Business Line - Money & Banking https://ift.tt/2B7FVDW

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Cosmos Coop Bank loses ₹94 cr to cyber attacks

Our Bureau Pune-based Cosmos Cooperative Bank has reported fraudulent withdrawals amounting to a whopping ₹94 crore due to cyber attacks, including

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Indian banks inadequately prepared for cyber attacks: Experts

Cyber attacks today are multi-pronged and can start with a malware being downloaded into a system or via a web application being hacked.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2OADX0y

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IDBI Bank raises MCLR by 5-10 bps

State-owned IDBI Bank today said it has increased the marginal cost of funds based lending rate (MCLR) by up to 0.10 per cent for various tenors. Th

from Business Line - Money & Banking https://ift.tt/2MkngsT

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Shocking bank theft! Hackers steal Rs 94 crore in 2 days; break into Pune’s Cosmos Bank server

According to the FIR, the hackers used an unidentified malware to hack the system and clone card details of the bank customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MK0Y0v

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Usha Ananthasubramanian, former PNB MD, dismissed by government on her last day of service; here’s why

On the day she was to retire, the government dismissed Usha Ananthasubramanian, the former MD of Rs 14,000 crore scam-hit PNB.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MhIl84

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Turkey rout complicates RBI's inflation-targeting agenda

Just when gains in consumer prices eased, a renewed onslaught on the rupee amid a Turkish lira-led rout on emerging market currencies may require a response, and possibly more rate action. The central bank aims to keep inflation at the 4 per cent midpoint of its target band in the medium term

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Mqjjml

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Here’s how ICICI Prudential Life is leveraging digital to demystify insurance

ICICI Prudential’s working credo is anchored in this pithy observation. And it has profound implications on the life insurer’s business model as it tries to limber up for the digital age.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Mo6yJa

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IDBI Bank net loss widens to Rs 2,410 cr in Q1

Loan loss provisions soar to Rs 4,603 crore from Rs 1,873 crore

from Business Line - Money & Banking https://ift.tt/2KQa4am

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Jet Airways lenders are wary of extending new loans

State Bank of India, HSBC Holdings and Axis Bank are among lenders to the Mumbai-based carrier, which owes a total Rs 9,430 crore. It had cash and equivalents of Rs 320 crore at the end of March.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OvIq4H

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Cosmos Bank’s server hacked; Rs 94 cr siphoned off in 2 days

Hackers managed to transfer over Rs 94 crore through a malware attack on the server of Pune-based Cosmos Bank and cloning thousands of the bank’s de

from Business Line - Money & Banking https://ift.tt/2P8C8t1

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Cosmos Bank's server hacked; Rs 94 crore siphoned off in 2 days

The fraudulent transactions were carried out on August 11 and August 13 through 25 ATMs located in Canada, Hong Kong and a few in India.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MK89Wy

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Allahabad Bank posts net loss of Rs 1,944 cr in Q1

State-owned Allahabad Bank today reported a net loss of Rs 1,944.37 crore in the first quarter ended June due to higher provisioning for bad loans.

from Business Line - Money & Banking https://ift.tt/2P3SPp8

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Jet Airways has not yet asked the bank for funds: SBI chairman

Shares in Jet, India's biggest full-service carrier, hit a three-year low on Friday after it deferred its earnings report due the previous day.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2P0SN1v

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PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

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Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

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Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

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Rupee recovers from life low, up 23 paise

In a ray of hope for domestic economy, latest data showed that retail inflation fell to 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MNOXXK

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PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

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Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

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Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

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PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

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PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

Read more »

PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

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Paresh Sukthankar quit for personal reasons: Aditya Puri

HDFC bank has enough managerial depth to keep the growth engine humming, Puri told investors.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2B99m8y

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Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

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RBI lens on 200 bad-loan accounts

These include the accounts of Videocon, Essar Steel, ABG Shipyard, Bhushan Steel and Monnet Ispat

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Bb4Qq4

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PNB fraud fallout: Former MD Usha Ananthasubramanian dismissed on the day she was to retire

On the day she was to retire, Usha Ananthasubramanian, former chief executive and managing director (MD)of Punjab National Bank (PNB), was dismissed from service in connection with the $2.2-billion fraud at the state-run lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BfCriq

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

Read more »

Since signing of ICA: PSBs put NPAs worth Rs 8,706 cr up for sale

PSBs have put on sale NPAs worth Rs 8,706 crore since the signing of the ICA on July 23, implying that they will continue to look for other ways to palm off exposures to bad loans unilaterally and make quick cash recoveries.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MpBKaW

Read more »

Central Bank to buy back tier-II bonds, perpetual debt worth Rs 3,024 crore

Central Bank of India has decided to carry out a premature buyback of its upper tier-II bonds and innovative perpetual debt instruments (IPDIs) worth Rs 3,024 crore and sought bids from merchant bankers for conducting the process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2MHbi9u

Read more »

PNB-Nirav Modi scam: Government dismisses former MD Usha Ananthasubramanian from service

The government on Monday dismissed Usha Ananthasubramanian, former managing director of fraud-struck Punjab National Bank (PNB) and Allahabad Bank, from service, according to an official notification.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nCfr3v

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PNB-Nirav Modi scam: Government dismisses former MD Usha Ananthasubramanian from service

The government on Monday dismissed Usha Ananthasubramanian, former managing director of fraud-struck Punjab National Bank (PNB) and Allahabad Bank, from service, according to an official notification.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nCfr3v

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National Pension Scheme to become compulsory for new RRB employees

The defined contribution pension scheme will come into place for employees joining after March 31 this year, two people familiar with the development said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2wa1qye

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‘NPA additions to slow down after Sept 2019’

The overall stress in commercial lending has not been increasing and the NPA addition to the banking system is expected to slow down after September

from Business Line - Money & Banking https://ift.tt/2MFbeas

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PNB-Nirav Modi scam: Government dismisses former MD Usha Ananthasubramanian from service

The government on Monday dismissed Usha Ananthasubramanian, former managing director of fraud-struck Punjab National Bank (PNB) and Allahabad Bank, from service, according to an official notification.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2nCfr3v

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Global jitters drag rupee to record lows

The strong fall below 69 paves the way for the next targets of 70.3 and 72

from Business Line - Money & Banking https://ift.tt/2vFvC4w

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Banks shy away from lending to affordable housing under CLSS

Capital constraints, fear of default likely reasons for lenders keeping away, say experts

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Govt dismisses Usha Ananthasubramanian as Allahabad Bank MD & CEO

Our Bureau The Centre on Monday dismissed Usha Ananthasubramanian as MD and CEO of Allahabad Bank, saying it was needed to secure the interest of thi

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PNB tightens corporate governance norms

"The bank has strong foundations and is committed to implement ethical standards besides tightening the norms wherever required despite demonstration carried out by officers' associations/unions at some centres," PNB said.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2KQD025

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‘Sukthankar’s decision to quit had nothing to do with succession plan’

Bank will begin working on a replacement in next 10-15 days, will not have post of Deputy MD

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Uniform insured value for vehicles from Oct 1

Vehicles of same make, model will be valued the same by all insurers

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Banks’ outlook negative till capital position improves: Fitch

CARE Ratings says it is unclear if all legacy problems in NPAs have been resolved

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PNB scam: Court takes cognisance of President's sanction to prosecute Usha Ananthasubramanian

Ananthasubramanian was today dismissed from service by the government, according to an official notification. She was to superannuate today.

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Canara Bank, Bank of India non-executive chairmen get extension

The ACC has approved renomination of Thothala Narayanasamy Manoharan as part-time non-official director on the board of Canara Bank for two years.

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Centre gives CBI nod to act against Usha Ananthasubramanian in PNB case

All executive powers had already been taken away from her after the CBI named her in the PNB scam.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2Mkmlsm

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NPA worries: Outlook on banks to remain negative, warns Fitch; this whopping amount needed to bolster capital

The outlook for the country's banking sector is likely to remain negative until its capital position strengthens in proportion to the bad loans and weak financial performances, according to Fitch Ratings.

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Why HDFC Bank MD Aditya Puri is not too disturbed by Deputy MD Paresh Sukthankar’s exit

After HDFC Bank Deputy MD Paresh Sukthankar quit in a surprise move, HDFC Bank CEO Aditya Puri said that while he understands concerns regarding Sukthankar's resignation, the business will not be affected.

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NPA worries: Outlook on banks to remain negative, warns Fitch; this whopping amount needed to bolster capital

The outlook for the country's banking sector is likely to remain negative until its capital position strengthens in proportion to the bad loans and weak financial performances, according to Fitch Ratings.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Oyr0oa

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Why HDFC Bank MD Aditya Puri is not too disturbed by Deputy MD Paresh Sukthankar’s exit

After HDFC Bank Deputy MD Paresh Sukthankar quit in a surprise move, HDFC Bank CEO Aditya Puri said that while he understands concerns regarding Sukthankar's resignation, the business will not be affected.

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Moody’s assigns GB1 grade to Axis Bank’s green bond issue

Moody's Investors Service (Moody's) has assigned Green Bond Assessment of GB1 (Excellent) to Axis Bank Ltd's debut $500-million green bond issued in

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Aditya Puri assuages investor concerns after top executive exit

Puri addressed analysts in an early morning confernce call in light of Sukthankar's shock exit from India's most valued lender on Friday evening.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MFL5Z2

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HDFC Bank’s Aditya Puri says Sukthankar’s decision to quit was personal

Bank will begin process of selecting next MD 18 months before Puri’s retirement

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Jan Dhan a/cs: Panel pitches for changes in overdraft facility to raise utilisation

Concerned over low utilisation of overdraft (OD) linked to the Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, the Steering Committee of the Nationa

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‘Modicare’ to offer insurers limited business

According to insurers, their experiences in managing large schemes like the Rashtriya Swasthya Bima Yojana can make a huge difference to the AB-NHPM.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2nuiDhI

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Fitch Ratings outlook on Indian banking sector likely to remain negative

Non-performing loan ratio may rise due to residual stress, new risks emerging out of the retail and SME sectors

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Paresh Sukthankar’s exit likely to hasten CEO hunt at HDFC bank

“The sudden resignation of the DMD who could have been a likely candidate for the CEO position throws a spanner in the works,” said Suresh Ganapathy, research analyst, financials, at Macquarie.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2B2k9S0

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RBI net sells USD 6.184 bn of US currency in June

Reserve Bank continued to remain net seller of the US currency for the third consecutive month in June, after it sold USD 6.184 billion of the US dollar in the spot market, RBI data showed.

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Bad loans in education sector on the rise, shows official data

Bad loans in the education sector have shown a rising trend in the past three financial years with NPAs nearing 9 per cent of the outstanding by March 2018, according to an official data.

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IBC has put recovery process on fast track: Ficci Survey

Banks which participated in the survey highlighted that IBC has also increased promoters' willingness to come forward for resolution at an early stage of default.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2w3qdDR

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RBI net sells USD 6.184 bn of US currency in June

Reserve Bank continued to remain net seller of the US currency for the third consecutive month in June, after it sold USD 6.184 billion of the US dollar in the spot market, RBI data showed.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vCkwgU

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Bad loans in education sector on the rise, shows official data

Bad loans in the education sector have shown a rising trend in the past three financial years with NPAs nearing 9 per cent of the outstanding by March 2018, according to an official data.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B3OYpl

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RBI net sells USD 6.184 bn of US currency in June

Reserve Bank continued to remain net seller of the US currency for the third consecutive month in June, after it sold USD 6.184 billion of the US dollar in the spot market, RBI data showed.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2vCkwgU

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Bad loans in education sector on the rise, shows official data

Bad loans in the education sector have shown a rising trend in the past three financial years with NPAs nearing 9 per cent of the outstanding by March 2018, according to an official data.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B3OYpl

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SBI to sell NPAs Bombay Rayon Fashions, Shivam Dhatu worth Rs 2,490 cr

SBI will sell two non-performing assets worth about Rs 2,490 crore and has invited bids for them. In terms of the bank’s revised policy on sale of f

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NPAs in education sector on the rise

Bad loans in the education sector have shown a rising trend in the past three financial years with NPAs nearing 9 per cent of the outstanding by Mar

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SBI to sell NPAs Bombay Rayon Fashions, Shivam Dhatu worth Rs 2,490 cr

The two accounts on sale are -- Bombay Rayon Fashions Ltd which owes Rs 2,260.79 crore to the bank. The second account, Shivam Dhatu Udyog Pvt Ltd, has to repay Rs 229.32 crore.

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